Intra-Cellular Therapies (NASDAQ:ITCI) Given New $96.00 Price Target at Mizuho

Intra-Cellular Therapies (NASDAQ:ITCI) had its price target hoisted by Mizuho from $82.00 to $96.00 in a research note released on Monday morning, Benzinga reports. The firm currently has a buy rating on the biopharmaceutical company’s stock.

Other equities research analysts have also recently issued research reports about the stock. Royal Bank of Canada reiterated an outperform rating and issued a $86.00 target price on shares of Intra-Cellular Therapies in a research note on Wednesday, April 3rd. TD Cowen raised their price target on shares of Intra-Cellular Therapies from $80.00 to $90.00 and gave the stock a buy rating in a research note on Wednesday, April 17th. Robert W. Baird raised their price target on shares of Intra-Cellular Therapies from $83.00 to $103.00 and gave the stock an outperform rating in a research note on Wednesday, April 17th. Needham & Company LLC restated a buy rating and set a $82.00 price target on shares of Intra-Cellular Therapies in a research note on Tuesday, April 16th. Finally, Cantor Fitzgerald restated an overweight rating and set a $101.00 price target on shares of Intra-Cellular Therapies in a research note on Friday, February 23rd. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $88.00.

Intra-Cellular Therapies Stock Performance

NASDAQ ITCI opened at $74.54 on Monday. The firm has a 50-day simple moving average of $69.34 and a 200 day simple moving average of $64.36. Intra-Cellular Therapies has a twelve month low of $45.50 and a twelve month high of $84.89. The stock has a market cap of $7.22 billion, a PE ratio of -51.05 and a beta of 1.02.

Intra-Cellular Therapies (NASDAQ:ITCI) last released its earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.44) by $0.14. Intra-Cellular Therapies had a negative net margin of 30.08% and a negative return on equity of 23.02%. The business had revenue of $132.10 million during the quarter, compared to analysts’ expectations of $135.97 million. During the same quarter last year, the company earned ($0.45) earnings per share. The firm’s revenue was up 50.3% on a year-over-year basis. Research analysts forecast that Intra-Cellular Therapies will post -0.67 earnings per share for the current fiscal year.

Insider Transactions at Intra-Cellular Therapies

In other news, CEO Sharon Mates sold 40,712 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $66.50, for a total transaction of $2,707,348.00. Following the completion of the sale, the chief executive officer now owns 1,050,309 shares of the company’s stock, valued at $69,845,548.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Sharon Mates sold 40,712 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $66.50, for a total transaction of $2,707,348.00. Following the completion of the sale, the chief executive officer now owns 1,050,309 shares of the company’s stock, valued at $69,845,548.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Suresh K. Durgam sold 6,450 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $66.56, for a total transaction of $429,312.00. Following the sale, the executive vice president now directly owns 16,170 shares of the company’s stock, valued at approximately $1,076,275.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 168,487 shares of company stock valued at $11,364,950. Corporate insiders own 3.40% of the company’s stock.

Institutional Trading of Intra-Cellular Therapies

A number of hedge funds and other institutional investors have recently modified their holdings of ITCI. Global Retirement Partners LLC increased its holdings in shares of Intra-Cellular Therapies by 13.8% in the third quarter. Global Retirement Partners LLC now owns 1,753 shares of the biopharmaceutical company’s stock valued at $89,000 after purchasing an additional 213 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of Intra-Cellular Therapies by 138.2% in the third quarter. SG Americas Securities LLC now owns 59,439 shares of the biopharmaceutical company’s stock valued at $3,096,000 after purchasing an additional 34,485 shares in the last quarter. Handelsbanken Fonder AB increased its holdings in shares of Intra-Cellular Therapies by 13.0% in the third quarter. Handelsbanken Fonder AB now owns 17,400 shares of the biopharmaceutical company’s stock valued at $906,000 after purchasing an additional 2,000 shares in the last quarter. Raymond James & Associates increased its holdings in shares of Intra-Cellular Therapies by 4.0% in the third quarter. Raymond James & Associates now owns 149,445 shares of the biopharmaceutical company’s stock valued at $7,785,000 after purchasing an additional 5,716 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Intra-Cellular Therapies by 1.6% in the third quarter. Bank of New York Mellon Corp now owns 404,329 shares of the biopharmaceutical company’s stock valued at $21,061,000 after purchasing an additional 6,182 shares in the last quarter. Institutional investors and hedge funds own 92.33% of the company’s stock.

About Intra-Cellular Therapies

Intra-Cellular Therapies, Inc, a biopharmaceutical company, focuses on the discovery, clinical development, and commercialization of small molecule drugs that address medical needs primarily in neuropsychiatric and neurological disorders by targeting intracellular signaling mechanisms in the central nervous system (CNS) in the United States.